SBI Fixed Deposit Interest Rates Hiked : State Bank of India (SBI), the country’s largest public sector bank, has increased interest rates on FDs for a certain period of time. SBI’s new FD rates have been implemented from last week. SBI’s new interest rates will be applicable on FDs of less than Rs 2 crore. This comes after the Reserve Bank of India (RBI) hiked its repo rates by 50 basis points in August.
Now these are the new rates
The new SBI FD interest rates have come into effect from Saturday, August 13. The bank has increased its FD rates from 4.40 per cent to 4.55 per cent for general public on deposits maturing between 180 days and 210 days. The interest rates on FDs with all other tenures have not been changed. SBI’s fixed deposit rate has also been increased by 15 basis points to 5.45 per cent for deposits maturing from one year to less than two years. SBI said on its website that the revised rates would be applicable on new FD or FD revised.
Here are the new rates..
7 days to 45 days: for general public – 2.90 percent; For Senior Citizen – 3.40 percent
46 days to 179 days: for general public – 3.90 percent; For Senior Citizen – 4.40 percent
180 days to 210 days: for general public – 4.55 percent; For Senior Citizen – 5.05 percent
211 days to less than 1 year: for general public – 4.60 percent; For Senior Citizen – 5.10 percent
1 year to less than 2 years: for general public – 5.45 percent; For Senior Citizen – 5.95 percent
2 years to less than 3 years: for general public – 5.50 percent; For Senior Citizen – 6.00 percent
3 years to less than 5 years: for general public – 5.60 percent; For Senior Citizen – 6.10 percent
5 years to 10 years: for general public – 5.65 percent; For Senior Citizen – 6.15 percent.
